A small drilling program at the South Pond copper-gold property in south-central Newfoundland has returned disheartening results for
Seven core holes totalling 1,236 metres were drilled to test possible depth-extensions to the South Pond copper deposit and a separate gold prospect. Three newly outlined coincident geochemical/geophysical anomalies were tested as well.
Hole 4 cut three separate intervals of 1.24 metres (starting at 50 metres) averaging 3.87 grams gold per tonne, 0.18 metre (starting at 55 metres) averaging 2.87 grams, and 1.23 metres (starting at 89 metres) averaging 1.18 grams. The only other significant results came from hole 5, which cut 1.06 metres (starting at 46 metres) grading 0.77 gram.
Results from the other holes were insignificant.
In the 1950s, the South Pond copper deposit was estimated to host 293,021 tonnes averaging 1.33% copper. The deposit is in a geologic setting similar to that of the Great Burnt Lake deposit, 10 km to the north, which Asarco estimated to host 907,180 tonnes grading 2.92% copper.
Historic results from the overturned deposit show a copper-rich stringer zone near the surface and more massive mineralization at depth, with zinc mineralization (generally less than 1%) concentrated in the downplunge portion. The deposit thickens to as much as 15 metres, similar to the tabular Great Burnt Lake deposit.
About 1 km along strike to the south lies the South Pond gold prospect. Here, disseminated mineralization is shear-hosted in two discrete layers of sedimentary rocks, siliceous biotite-bearing pelites and siltstones. Gold is usually found in association with pyrrhotite and chalcopyrite, and rarely with quartz veins.
Two short holes drilled in 1987 yielded 5.5 metres grading 2.21 grams and 4.33 metres of 4.8 grams. The former interval was part of a larger, 29-metre section that averaged 1 gram.
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